Fibonacci Trading with Bobokus

Quoting zerosum

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I am not Bob,but will try and explain what I think is wrong with your chart..... I'm sure Bob will back to answer your question and let me know if my analysis is right or wrong.

I wont have move my intraday high to the high of yesterday...instead I will still leave it from the Intraday high of Monday cos we didnt see usd/chf move and hit our intraday T1 or really move beyond the Intraday Low.

Attached is my chart of how I will have my Intraday Fibs and and use my swing Fibs to gauge yesterday's movement and give a better feel of where price is going.

I hope you are still demo trading and not gone Live yet till you have a better understanding of how you use Fib as a tool to guage price movement....also taking any trade during the Asian session is highly risky and its better to wait for London session.

Just my 2pips......

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Quoting zerosum

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I am not Bob,but will try and explain what I think is wrong with your chart..... I'm sure Bob will back to answer your question and let me know if my analysis is right or wrong.

I wont have move my intraday high to the high of yesterday...instead I will still leave it from the Intraday high of Monday cos we didnt see usd/chf move and hit our intraday T1 or really move beyond the Intraday Low.

Attached is my chart of how I will have my Intraday Fibs and and use my swing Fibs to gauge yesterday's movement and give a better feel of where price is going.

I hope you are still demo trading and not gone Live yet till you have a better understanding of how you use Fib as a tool to guage price movement....also taking any trade during the Asian session is highly risky and its better to wait for London session.

Just my 2pips......

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Quoting ztdep

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Dear bobokus:
Could you please help me to analize the usdchf.
i see it has break the long fib, so i enter a long. but it reversed me at once. so could you please told me what is the problem.
regards

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Quoting Shermenator

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Bo just whanted to show my setup for this currency so i know if this is cleaner then my overload of fibbs...their a couple off more fibb i can place here but as you told me i will use my swing fibb and price will let me know if it reacting to the fibb....
I chosed this currency since no one has showened the currency and i wont feel like I am cheating lol...

Chart 1 daily chart...

Attachment

Now my 1 hour chart

Attachment

I took a trade of my intraday levels pivot and then price began to come down when it impacted the 61.8 (light blue fibb)

Right now i have placed the swing fibb( red one) Since to me that would be the fibb telling me either to hold the trade or simply tell me my trade is not in good shape....

I have moved my swing fibb around and i know why its also came down once i enter the trade was because it also impacted the fibb 38.2 from price 0538 to price 0375...now that i know this i know what to expect. Simply if support does not hold it was simply a bad trade and thats all...Another factor why i have a tight stop in my head is for the fact that no intraday got hit yesterday and that leaves the market for another reversal day...Also i will not reversed based of the fact that if this littel swing fibb does not hold support since once again we would still be in intraday support levels.This a trade that can be taken but i rather wait for the extra confirmation since i rather come in at a higher probability trade by waiting for the breack of our 61.8 intraday fibb.Once again the market is not going anywere like you say.


Also if price does break the intraday short today i will short with the goal to reach the intraday t1...but before that i will be aware of priceaction at the swing target specially (red fibb swing) since the place price has stalled
and formed support over the past attempts is at that target.

The reason that support has been found is because that is the resistance pivot (light blue fibb) but also if you move your swing fibb from price 0147 to price 0538 you will find major support of a 38.2 and i dont need to place all this fib levels but just know about them in my head thats why i will close have of my trade in the swing fibb target and let the market tell me if it whants to stop at this point or continue I will let the market take me out of the trade...but once again this would only be if price decides to reverse.

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Quoting zerosum

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I am not Bob,but will try and explain what I think is wrong with your chart..... I'm sure Bob will back to answer your question and let me know if my analysis is right or wrong.

I wont have move my intraday high to the high of yesterday...instead I will still leave it from the Intraday high of Monday cos we didnt see usd/chf move and hit our intraday T1 or really move beyond the Intraday Low.

Attached is my chart of how I will have my Intraday Fibs and and use my swing Fibs to gauge yesterday's movement and give a better feel of where price is going.

I hope you are still demo trading and not gone Live yet till you have a better understanding of how you use Fib as a tool to guage price movement....also taking any trade during the Asian session is highly risky and its better to wait for London session.

Just my 2pips......

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Quoting Shermenator

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The reason my intraday is like ztep is that we had an attempt at the low of the intraday your refering to...second price made a double bottom...third price broke a downward trendline.Fourth because their is a probble head and shoulders forming. Another reason because if you place a fibb from price 1.0147 to price 1.0538 yesterday when the attempt to breack the low took placed we bounced of a 38.2 fibb. And the last reason is because when an intraday target is not reached it shows weakness in a certain direction and a probable reversal coming in the market.
When i take trades at early time i always treat them like a scalp and use tight stops. For example today i shorted the gbp/usd early and my trade when from a quick scalp into a semi trade.And i cought it at the top when price broke out of the consolidation at the 38.2 intraday fibb.

Ztep hope this helps...my intraday is like yours...

My swing fibb held so I am still long
I am looking for my intraday high since my swing fibb targets match up and we have a downward trendline from the daily...if price keeps on going up it does not matter since i have made my pips...

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Quoting ztdep

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thank you very much for your reply, i treat the demo live live since i have blown out 2accouts. i sitll think we should place the intraday high at yesterday. and the down represent the price to test the intraday pivot.
i do not know whether i am right or not.
i am lost.
regards

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Quoting sonicdeejay

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Guys,

I wanna use Fibo in my graph and I have some prob with it...
pls tak a look @ t pic...
what setting or any new fibo indicator shd I use??


sonic

http://i25.tinypic.com/mlggwj.gif

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Quoting ztdep

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i just have some suggestions. please do not blame at me.
could sombody plese post the analysis about how to use the swing fib to follow the price during a trade. how can a scalp trade turn into trending trade.
i am going to explore the whole threads the second times to have a deeper understanding about the fib levels.
regards

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Quoting ztdep

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thank you very much for your reply, i treat the demo live live since i have blown out 2accouts. i sitll think we should place the intraday high at yesterday. and the down represent the price to test the intraday pivot.
i do not know whether i am right or not.
i am lost.
regards

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Quoting lordgbengs

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Hi ztdep,
this is my advice to you,y u keep blowing ur acct is becos of greed,check it,the only acct i blowed was blowed cos of my greed,check ur money management it is d HOLY GRAIL,i discovered that wen i trade wth proper money management ,my emotions are better wen i observe my money management rules,even wth d poorest strategy and u hav sound money management u wldnt blow d acct thats my discovery.though wth sound money management it might tak u time 2 build ur acct but ur losses are cut short and its givs u an aura of fufillment wen u are disciplined as a trader,losses is part of d business but they shd be controlled.i hope it helps

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Quoting ztdep

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Thank you very much:
your english seems to be very strange. but i still can understand. yes, i am in the process of improve my emotion control capibility. it is really increasing.
have you open the pdf fild sucesfully.
regards

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